ICBC Corporate Operation Brand-building Study

From the advertizing-based brand-building by Rosser Reeves, all the way to David Aaker's strategy planning on brand portfolio and management theory, studies and researches on branding theory have been progressing for nearly half a century in the West. Brand equity, particularly over the past two decades, came as one of the most sought-after subjects in the western management domain. Specialists from all parts are paying greater attention on studies of brand-building, spreading and brand values. Back in China, however, a systematic theoretical system is yet to be achieved as academic studies on brand-building and integrated marketing communication did not get underway until quite late. Hence, what we have in hand are largely borrowed from elsewhere.Therefore in this paper, Industrial and Commercial Bank of China Co. Ltd (hereinafter referred as ICBC) is exemplified to indicate relations between brand-building, integrated marketing communication and brand effect, with both relevant theories and practices presented. Some research results in this paper can be of a reference for both domestic banks in brand-building and management and for academic studies in relevant domains.This paper reviews theories and models brought forward by David Ogilvy, David Aaker, Don Schultz on brand, brand equity, brand-building, marketing policy, integrated marketing communication and so on, and also presents relevant theoretical background of financial brand. In addition, this paper introduces the development of top-notched financial brands both at home and abroad, and sums up the experience of advanced international financial institutions in building their brand, in this way to find in what way domestic banks fall short in brand-building.By taking ICBC as an example, the paper also reveals the status quo of ICBC in brand-building and the necessity of strengthened efforts in building its brand. In this paper, proposals are provided as to what principles ICBC should adopt in brand-building and how to materialize these principles. It is necessary for ICBC to take a strategic view on brand-building. Not only should it enhance efforts in brand identification and management, but also set stage for ICBC brand-building with the help of integrated marketing communication as well as other marketing policies, so as to effectively elevate the value of ICBC's brand equity. This is a significant approach for ICBC to forge its core competitiveness and thus secure itself a position among thetop-class international financial corporations.